CUNA supports NCUA’s proposed changes to its regulations governing corporate credit unions, it wrote to the agency Friday in response to the proposal’s revisions to provisions on retained earnings and Tier 1 capital.
CUNA is the only national trade association for credit unions advocating for stabilization fund refunds to begin in 2018, but does have concerns with NCUA's proposal to raise the normal operating level to 1.39%.
NCUA’s proposed changes to the overhead transfer rate is consistent with CUNA’s continued opposition of transfer of agency expenses from the share insurance fund for non-insurance related costs, CUNA wrote to the agency Tuesday.
NCUA’s regulatory reform agenda appeared in the Federal Register Tuesday, and comments are due Nov. 20. A number of CUNA regulatory relief suggestions are present in the package of proposals, which were announced earlier this month.
NCUA Wednesday released a package of possible regulatory reforms and urged credit union stakeholders to read and comment. According to the agency, the reforms were recommended by an internal NCUA task force.
CUNA generally supports NCUA’s proposed changes to appeals and Supervisory Review Committee procedures, as it would provide more uniform board appeals procedures across NCUA regulations allowing for informal appeals to the board.
An amended merger rule should not increase the burden for the merging or acquiring credit unions, CUNA told NCUA Monday in response to the agency’s proposed rule to alter federal credit union merger procedures.
NCUA’s plan to close the Temporary Corporate Credit Union Stabilization Fund and setting the share insurance fund’s operating level was published in the Federal Register Thursday. Comments on the proposal are due by Sept. 5.